Y Intercept Hong Kong Ltd Buys New Shares in Tenet Healthcare Corporation (NYSE:THC)

Key Points

• Y Intercept Hong Kong Ltd has acquired a new stake in Tenet Healthcare Corporation, purchasing 7,222 shares valued at approximately $971,000, according to their Form 13F filing.
• Tenet Healthcare reported a Q2 EPS of $4.02, exceeding analysts' estimates of $2.84, with revenues of $5.27 billion, up 3.2% year-over-year.
• Analysts have varying ratings on Tenet Healthcare, with a consensus rating of "Moderate Buy" and a target price of $190.00, reflecting mixed expectations about the stock's future performance.

Y Intercept Hong Kong Ltd purchased a new stake in Tenet Healthcare Corporation (NYSE:THC - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 7,222 shares of the company's stock, valued at approximately $971,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in shares of Tenet Healthcare in the 1st quarter valued at $26,000. Wayfinding Financial LLC acquired a new stake in Tenet Healthcare during the 1st quarter worth $28,000. Colonial Trust Co SC raised its stake in Tenet Healthcare by 85.7% during the 4th quarter. Colonial Trust Co SC now owns 247 shares of the company's stock worth $31,000 after acquiring an additional 114 shares in the last quarter. GeoWealth Management LLC raised its stake in Tenet Healthcare by 39.8% during the 4th quarter. GeoWealth Management LLC now owns 295 shares of the company's stock worth $37,000 after acquiring an additional 84 shares in the last quarter. Finally, Versant Capital Management Inc raised its stake in Tenet Healthcare by 46.2% during the 1st quarter. Versant Capital Management Inc now owns 718 shares of the company's stock worth $97,000 after acquiring an additional 227 shares in the last quarter. Hedge funds and other institutional investors own 95.44% of the company's stock.

Insiders Place Their Bets

In other news, EVP Paola M. Arbour sold 7,738 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $173.00, for a total value of $1,338,674.00. Following the completion of the transaction, the executive vice president owned 20,110 shares of the company's stock, valued at $3,479,030. The trade was a 27.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Thomas W. Arnst sold 9,786 shares of the business's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $166.00, for a total transaction of $1,624,476.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 54,121 shares of company stock valued at $8,846,305. 0.81% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on THC shares. Royal Bank Of Canada lifted their price target on shares of Tenet Healthcare from $183.00 to $189.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 30th. UBS Group lifted their price target on shares of Tenet Healthcare from $230.00 to $238.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Guggenheim raised their price objective on shares of Tenet Healthcare from $180.00 to $188.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Mizuho raised their price objective on shares of Tenet Healthcare from $184.00 to $194.00 and gave the stock an "outperform" rating in a research report on Friday, July 11th. Finally, Barclays lowered their price objective on shares of Tenet Healthcare from $215.00 to $208.00 and set an "overweight" rating on the stock in a research report on Thursday, July 24th. Four research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $190.00.

Tenet Healthcare Price Performance

THC traded up $1.26 during midday trading on Tuesday, reaching $157.78. 300,174 shares of the company's stock were exchanged, compared to its average volume of 1,603,404. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.71 and a quick ratio of 1.63. The stock has a market capitalization of $14.66 billion, a PE ratio of 10.10, a P/E/G ratio of 0.65 and a beta of 1.64. The business's 50-day moving average price is $167.96 and its 200 day moving average price is $145.60. Tenet Healthcare Corporation has a 1-year low of $109.82 and a 1-year high of $185.25.

Tenet Healthcare (NYSE:THC - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The company reported $4.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.84 by $1.18. The company had revenue of $5.27 billion during the quarter, compared to analysts' expectations of $5.16 billion. Tenet Healthcare had a net margin of 7.17% and a return on equity of 24.69%. The firm's quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.31 earnings per share. As a group, equities analysts anticipate that Tenet Healthcare Corporation will post 12.24 EPS for the current fiscal year.

Tenet Healthcare Profile

Tenet Healthcare Corporation operates as a diversified healthcare services company in the United States. The company operates through two segments: Hospital Operations and Services, and Ambulatory Care. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.